Iowa Code § 637.604
Interested trustee’s authority to convert
Iowa · Iowa Code Chapter 637 — Uniform Principal and Income Act · Status: effective
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- Citation
- Iowa Code § 637.604, Interested trustee’s authority to convert, Iowa, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2279484
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Full text
If there is no trustee of the trust other than an interested trustee, the interested trustee or, where two or more persons are acting as trustee and are interested trustees, a majority of such interested trustees may, in the trustee’s sole discretion and without the approval of the court, do any of the following subject to the requirements of section 637.605:
1. Convert an income trust to a total return unitrust.
2. Reconvert a total return unitrust to an income trust.
3. Change the method used to determine the fair market value of the trust.